Hytner warned that the "pittance saved by cutting a few percentage points from our budget" would cause damage that would be "disproportionately savage".

"By investing in the arts, they stimulate the creative economy – by common consent the most successful and fastest growing sector of the economy as a whole," he added.

Hytner has been in charge of the National Theatre since 2003 and is contracted to stay until at least 2013. He restored its reputation with productions such as the History Boys, His Dark Materials, Democracy and Jerry Springer: the Opera.

"The theatre has had an amazing five years and the National Theatre's success has spilled over into the West End and overseas," said our panel. Not everyone agreed with his inclusion on this list, however. "Hytner's not media – he's showbiz."

Hytner, who has directed films including The Madness of King George and a big-screen adaptation of the History Boys, was previously associate director of Manchester's Royal Exchange Theatre before taking the same role at the National Theatre in 1997. He succeeded Sir Trevor Nunn in the NT's top job.